. . . it appears that now approximately 22% of the US population is enrolled in Medicaid. Not Medicare – Medicaid. That’s the joint Federal-state program for the indigent.
Yes, you read that right. More than 1 out of 5 people living in the US are getting their healthcare paid for courtesy of the US taxpayer because they’re considered “indigent”.
That comes to roughly 70.4 million individuals. Oh, and did I mention that the definition of “indigent” for Medicaid purposes gets significantly easier to meet in 2014 – when the earning threshold for qualification goes from poverty level to 133% of poverty level?
Sadly, that’s not the whole story. Add Medicare recipients who are not indigent, and I’d guess the total today is over 100 million people who are getting their healthcare paid for courtesy of Uncle Sam as an unearned entitlement. (In 2010 approximately 27.5 million of the 47+ million Medicare enrollees were above poverty level and thus did not qualify for Medicaid.)
Why is this bad? Just remember economics in 9 words – TANSTAAFL. And I don’t think I have to tell you who’s picking up the bill for all of this.
If you’ve got any doubts, remember the above when the next round of Federal and state tax hikes hits. Because mark my words – another round of tax hikes is coming.
And when those tax hikes hit, there’s a good chance it won’t only be psychologically depressing.